![Australia’s RPM to expand tyre wholesaling through acquisition](https://www.tyrepress.com/wp-content/uploads/2023/07/australian-flag.jpg)
Australia’s RPM to expand tyre wholesaling through acquisition
Effective 1 September 2023, Australia’s RPM Automotive Group Limited is acquiring regional wholesaler and retailer Chapel Corner Tyres. By purchasing this Melbourne-based firm, RPM aims to scale its wholesale tyre division distribution network in the Victoria metro region.
Continue Reading![Point S expands into Macau](https://www.tyrepress.com/wp-content/uploads/2023/08/Point-S-Macau-sml.jpg)
Point S expands into Macau
After arriving in mainland China in mid-2020 and Hong Kong later that year, Point S has now gained a presence in Macau with the establishment of two franchise outlets. The first of these, Point S Kong Nam Tyre and Auto Supplies in Taipa, opened its doors on 27 July.
Continue Reading![Goodyear share price down 20% after Q2 results](https://www.tyrepress.com/wp-content/uploads/2023/08/GY-share-price.png)
Goodyear share price down 20% after Q2 results
The Goodyear Tire & Rubber Company’s fell share price fell 20 per cent when markets opened on 3 August 2023. The sharp fall to around $12.30 represents the lowest point since investor Elliott called for largescale strategic and board composition changes on 11 May 2023. At the time of going to press, Goodyear’s share price was showing signs of recovery and trading at around $13.15.
Continue Reading![Yokohama OHT suffered cyber attack in June – reports](https://www.tyrepress.com/wp-content/uploads/2021/05/transport-city-cyber-1.jpg)
Yokohama OHT suffered cyber attack in June – reports
At the end of June, at least some of Yokohama OHT’s computer systems were attacked the Akira Ransomware Group. According to reports by two online media sources, the Akira group launched its cyber attack on Yokohama OHT on 21 June 2023.
Continue Reading![Goodyear reports $208 million overall net loss in Q2 2023](https://www.tyrepress.com/wp-content/uploads/2023/08/qtr2_2023_goodyear_investor_letter.pdf.coredownload.png)
Goodyear reports $208 million overall net loss in Q2 2023
The Goodyear Tire & Rubber Company has reported a second quarter 2023 net loss of $208 million compared to net income of $166 million a year ago. According to executives, the sharp drop was primarily due to lower sales volume and higher “other expense”, driven by lower net gains on asset sales and higher pension costs.
Continue Reading![Artisanship alive & well in tyre development](https://www.tyrepress.com/wp-content/uploads/2023/08/tyre-carving-sml.jpg)
Artisanship alive & well in tyre development
Creating a tyre tread by hand may seem old fashioned, but even the largest manufacturers rely upon skilled carvers when developing new patterns. We visited Continental in Germany to see how this is done and to learn why automation hasn’t consigned carving to the history books.
Continue Reading![Goodyear EMEA lost $19 million in Q2 2023](https://www.tyrepress.com/wp-content/uploads/2023/08/GY-EMEA-q2-loss.png)
Goodyear EMEA lost $19 million in Q2 2023
Goodyear lost $19 million in the EMEA region in the second quarter of 2023, with segment operating income down $71 million or 136.5 per cent compared with the $52 million operating income achieved at the same point in 2022.
Continue Reading![Falken manufacturer exploring tyre recycling tech](https://www.tyrepress.com/wp-content/uploads/2023/08/SRI-recycling.jpg)
Falken manufacturer exploring tyre recycling tech
Sumitomo Rubber Group sold 110 million tyres worldwide in 2022 and is well aware of the importance that these products be recycled at the end of their working lives. For this reason, three group companies are collaborating to explore new recycling technologies.
Continue Reading![Repairify and Capricorn agree Australia/New Zealand joint venture](https://www.tyrepress.com/wp-content/uploads/2023/08/Cris-Hollingsworth-Formal-scaled-e1690981022828.jpg)
Repairify and Capricorn agree Australia/New Zealand joint venture
Repairify Australia Holdings Pty Ltd and Capricorn Society Limited have entered into a joint venture agreement to deliver “leading-edge remote automotive repair solutions to repairers across Australia and New Zealand”. Repairify and Capricorn have equal ownership of the joint venture, which will be branded as Repairify and distributed across Australia and New Zealand by Capricorn through the Capricorn Preferred Supplier Network.
Continue Reading![moveero appoints sales and business development director, Americas](https://www.tyrepress.com/wp-content/uploads/2023/08/Steve-Cook.jpg)
moveero appoints sales and business development director, Americas
moveero has announced the appointment of Steve Cook as its new sales and business development director, Americas. Cook will lead the strategic alignment with global customers and resulting company’s growth drive.
Continue Reading![Ceat boosting TBR capacity to meet international growth ahead of US launch](https://www.tyrepress.com/wp-content/uploads/2023/08/ceat-truck.jpg)
Ceat boosting TBR capacity to meet international growth ahead of US launch
In January 2022, Ceat announced it had “curbed” its ambition in the truck and bus radial segment and was looking to shift its investment focus to off-highway tyres. The company now appears to have reconsidered this step and is reactivating previously approved TBR capacity expansion plans.
Continue Reading![Aeolus enters OTR market in Chile, Indonesia](https://www.tyrepress.com/wp-content/uploads/2023/08/aeolus-winter-otr-3.jpg)
Aeolus enters OTR market in Chile, Indonesia
Aeolus has set up two new subsidiaries in Chile and Indonesia to be responsible for tyre import and export and wholesale. Tyrepress China learned that the tyre manufacturer wants to “adapt to the needs of strategic planning and business development, promote the company’s exchanges and cooperation with the international market, continuously expand business fields, accelerate the process of internationalisation, and enhance international competitiveness.”
Continue Reading![South Africa imposing anti-dumping duties on tyres from China](https://www.tyrepress.com/wp-content/uploads/2023/08/SA-flag.jpg)
South Africa imposing anti-dumping duties on tyres from China
The International Trade Administration Commission of South Africa (ITAC) has recommended that the country’s Minister of Trade, Industry and Competition, Ebrahim Patel, impose definitive anti-dumping duties on imports of passenger car, truck and bus tyres from China. The Minister has approved ITAC’s recommendation. Duties will range from 7.18% to 43.60% ad valorem and remain in place until July 2028.
Continue Reading![Sentury to start Morocco plant construction after Chinese government certification](https://www.tyrepress.com/wp-content/uploads/2023/08/morocco-flag.jpg)
Sentury to start Morocco plant construction after Chinese government certification
On July 27, Sentury revealed that it expects to commence construction for its Morocco factory soon. Tyrepress China has learned that the general manager of the tyre manufacturer is “in Morocco preparing for the start of the tyre factory”.
Continue Reading![Bridgestone debuts Japan retail portal](https://www.tyrepress.com/wp-content/uploads/2023/08/Bridgestone-online.png)
Bridgestone debuts Japan retail portal
From today, Bridgestone is directly selling passenger vehicle tyres online in its home market of Japan via a new portal, the Bridgestone Online Store. This new tire-onlinestore.bridgestone.co.jp site draws upon the services of Bridgestone’s B-select retail network, which the company launched in Japan last month.
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